PUBLISHER: The Business Research Company | PRODUCT CODE: 1270363
PUBLISHER: The Business Research Company | PRODUCT CODE: 1270363
“Precision Gearbox Machinery Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on precision gearbox machinery market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for precision gearbox machinery ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The precision gearbox machinery market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Major players in the precision gearbox machinery market are Reishauer AG, Nidec Corporation, DMG Mori Aktiengesellschaft, DVS Technology Group, EMAG, Gleason Corporation, Liebherr-International Deutschland GmbH, Matrix Precision CO LTD., SEW-EURODRIVE GmbH & Co KG, Siemens AG, Harmonic Drive LLC, Stober Antriebstechnik GmbH and Co. KG, WITTENSTEIN SE, GAM Enterprises, Neugart GmbH, Apex Dynamics Inc., Sumitomo Drive Technologies, Nabtesco Corporation, Wilhelm Vogel GmbH, Onvio LLC, ATLANTA Drive Systems Inc., and Transprecision Gears Pvt.Ltd.
The global precision gearbox machinery market is expected to grow from $4.92 billion in 2022 to $5.28 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The precision gearbox machinery market is expected to grow to $6.72 billion in 2027 at a CAGR of 6.2%.
The precision gearbox machinery market consists of sales of gearmotors or mobility, stepper, flange gearboxes, and other types. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Precision gearbox machinery refers to a mechanical device that alters torque by raising or lowering speed by a precise measure. A minimum of two precision gears are used in this, with the motor unit driving one of the gears. These are used for high-precision motion control applications in various industrial equipment that are made within high accuracy standards.
Asia-Pacific was the largest region in the precision gearbox machinery market in 2022. The regions covered in the precision gearbox machinery report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of precision gearbox machinery are planetary gearbox, worm gearbox, helical gearbox, bevel gearbox, spiral bevel gearboxes and others. A planetary gearbox refers to a gearbox with the input shaft and the output shaft aligned. The manufacturing processes are hobbing, grinding, turning, and honing. The shaft orientations are coaxial, right-angled, and parallel shift and are applied in machine tools, material handling, packaging, robotics, automobile, off-road vehicles, wind towers, agriculture, railways and marine.
The growing utilization of robotic devices is expected to propel the precision gearbox machinery market going forward. A robot device is a programmable machine that can execute a task without the intervention of humans. Precision gear box machinery is used in robotic devices that are constructed simply characterized by their precise transmission of motion, zero-backlash, and high transmission ratios. For Instance, in June 2022, according to the International Federation of Robotics, a Germany-based non-profit organization that promotes, strengthens, and protects the robotic sector data, 48.68k units of industrial robots were shipped globally in 2021 in Europe, which is an increase of 27% compared to 2020. 4.9k units of industrial robots were sold in 2021 in the US, an increase of 27% as compared to 2020 data. 3.54k units of industrial robots had been shipped in 2021, an increase of 33% as compared to 2020 in Asia. Therefore, the growing utilization of robotic devices is driving the growth of the precision gearbox machinery market.
Technological advancements are a key trend gaining popularity in the precision gearbox machinery market. Major companies operating in the precision gearbox machinery market are focused on developing new technological solutions to strengthen their position in the market. For Instance, in January 2021, Sumitomo Drive Technologies, a US-based company operating in precision gearbox machinery, launched the F4CF-DA series of modular precision gears that utilize the Fine Cyclo Technology. The most crucial innovation of the new series is the increased torque per unit size. The number of sizes in the series lineup has also been expanded in response to users' demand for more individuality and sizes have been developed accordingly. They are approximately 8% smaller in diameter and 5% shorter in length than the previous generation. Despite this size reduction, performance has been increased by approx. 20% across the range. The noise levels of the DA series have also been decreased.
In March 2022, Schaeffler, a German-based manufacturer of bearings and other components, acquired Melior Motion for an undisclosed amount. Through this acquisition, Schaeffler aims to expand the robotics portfolio of the Schaeffler Group's industrial division. Melior Motion is a Germany-based company operating in precision gearbox machinery.
The countries covered in the precision gearbox machinery market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The precision gearbox machinery market research report is one of a series of new reports from The Business Research Company that provides precision gearbox machinery market statistics, including precision gearbox machinery industry global market size, regional shares, competitors with a precision gearbox machinery market share, detailed precision gearbox machinery market segments, market trends and opportunities, and any further data you may need to thrive in the precision gearbox machinery industry. This precision gearbox machinery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.